Find the simple interest (in ₹) on ₹2500 as a sum borrowed at 5% per year rate of interest for 5 years.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e 625.
SI = (P × R × T) ÷ 100 = (2500 × 5 × 5) ÷ 100 = 62500 ÷ 100 = ₹625